Making Plans |
Event Planner
Applications of Mathematics 9 |
Lesson Idea by: Lesson Idea by Cindy Botnen, Hollywood Middle School
School District #23 (Central Okanagan)
Event planners are "detail people." That's a good thing, since their careers depend completely on their attention to detail. Those details can range from what type of serviettes to place at the buffet table, to making sure there's a carnation pinned on the chauffeur's lapel. Event planners have got to be on top of every detail involved in a special event, including the menu, floral arrangements, facilities, transportation and special services like photography. In short, an event planner's job is to take care of all these details for a client.
Another set of details that require the utmost attention are the numbers. Event planners work with lots of numbers. The client tells the event planner how much to spend on the special event, be it a wedding or a business conference. Then it's up to the event planner to produce the best event possible within that budget. That means juggling lots of separate items, and deciding where to scrimp and where to spend. Event planners have to watch their expenses like a hawk.
"Meeting planners must have a solid understanding of accounting and financial management procedures," says Ted Wykes, a meeting and event planning professor at the University College of the Cariboo in Kamloops, B.C.
But, that's not all the math an event planner has to know. There's also:
- calculating percentages
- measuring areas of rooms (determining the square footage of a space to ensure everything will fit)
- measuring volume (for example, the number of cups of coffee in a gallon)
- calculating interest rates
- calculating fractions
- determining averages, medians and modes
- doing break even analysis
- metric conversions
- determining gratuities
- determining the correct screen size and placement for audio-video presentations
- calculating no-show factors
When and where a planner would use these skills depends on the event being organized.
In short, to be a good event planner, you have to have an artistic flair, a love of social occasions and a mind for math.
Your class is responsible for planning the next school dance. Discuss with your classmates what committees you need to form in order to organize this event.
Be sure to consider such areas as:
- music (phone for price quotes)
- decorations (compare prices when buying large quantities)
- concessions (include the cost of purchasing the goods and the selling price)
- advertisements (making and placing)
- chaperones (include thank-you gifts)
Divide yourselves into the various committees. Then, start planning. Brainstorm for good ideas and create a list of things you will need for the event. Set an approximate cost -- this is an important part of the budgeting process. Phone suppliers for prices and additional information.
Be meticulous in your research. Discuss which costs are variable and which costs are fixed.
Prepare a detailed budget for your client who has requested you plan the dance, be it the student council, principal or teacher. Your budget should include anticipated revenue (money made) and anticipated expenses (money spent).
As you prepare your budget, ask yourself the following questions:
- Is the budget reasonable?
- What does it take to plan a successful event and not go over budget?
- How much will you need to charge for admission to cover the costs?
- Where could you make changes in the budget to reduce the cost for the students?
- Could you charge a bit more on the concessions or get some of the food donated?
- Could you negotiate with your suppliers for a lower price? After all, you could plan the world's best dance, but if no one can afford to attend it, your dance is a big loss.
A stockbroker has approached you about organizing a one-day seminar for her customers. She wants you to provide her with a budget before she decides whether or not to schedule the seminar. If she has to charge more than $50 per person she won't hold the seminar.
She's asked you to include your fees in the budget. Most planners set their fees by charging a certain amount per delegate attending. When you charge in this manner, your fee is a surcharge on the other costs of attending, like room rental and food. Usually the event planner's fee is calculated as a percentage of the total bill for the event. Based upon past experience, you estimate your fee to be 10 per cent of the fee per person.
(Some planners earn income in other ways. Other planners charge a commission to their suppliers, or "vendors." For example, they may charge the hotel a percentage of the total bill for room rental and food on the grounds that it was the planner who brought the hotel the business in the first place.)
The stockbroker estimates that 35 of her customers will participate in the seminar. After some research, you've come up with these numbers:
| Food and beverage |
$12.50 per person |
| Meeting room rental fee |
$350 |
| Printing and copying (estimated) |
$195 |
| Speaker's fee |
$275 |
| Miscellaneous costs (estimated) |
$165 |
|
Use the figures listed above to calculate the total budget for the seminar, your income and the registration cost per person.
Will your stockbroker client hold the seminar?
Extra Activity:
Now that you've got some experience in event planning, take the proposal to your student council and ask to run the next dance. Keep track of your budget and see if your plan worked. What changes would you make for the next time?
| Course/Grade: Applications of Mathematics 9 |
Curriculum Organizer:
Problem Solving, Number Operations 1 |
Curriculum Sub-organizer(s):
solve real-life problems using rational numbers, modify and revise strategies, demonstrate group skills, analyse problems and identify the significant factors
|
Prerequisites:
Calculator use, rational numbers, problem solving, estimation skills
|
Resources:
· access to spreadsheet program
· access to phones for price quotes |
Solution to Learn
Get out your workbook to figure out if the stockbroker will want to hold the seminar.
First, calculate the total expense:
| Food and beverage |
35 x $12.50 = |
$437.50 |
| Meeting room rental fee |
|
$350.00 |
| Printing and copying |
|
$195.00 |
| Speaker's fee |
|
$275.00 |
| Miscellaneous costs |
|
$165.00 |
Cost: |
|
1422.50 |
|
|
Now, figure out your earnings.
Your charge is 10 per cent of the total cost:
$1422.50 x 10% =
$1422.50 x 0.10 =
$142.25
The stockbroker's total cost is:
$1422.50 + $142.25 = $1564.75
She's expecting 35 people will attend, so the minimum charge per person would be:
$1564.75 divided by 35
= $44.70
It will cost $44.70 for each person to attend the seminar, so yes, the stockbroker will hold the seminar.
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